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Brazil's B3 agrees to acquire Portal de Documentos

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Brazil's B3 agrees to acquire Portal de Documentos

B3 SA - Brasil Bolsa Balcão said it signed an agreement to acquire 100% of Portal de Documentos SA, a company that provides digital solutions for banks in their vehicle and real estate lending operations.

The total value of the acquisition may reach up to 175.0 million Brazilian reais, depending on the achievement of certain financial and operational targets as well as other contractual conditions.

Out of the total consideration, 50.0 million reais will be paid upfront and the remaining balance in a period of up to four years from the closing of the deal, the Brazilian stock exchange operator said.

The transaction, which is subject to approval from antitrust regulator CADE, is in line with B3's "strategy of adding value to its customers, as it will increase and diversify the products offered to banks that originate and manage vehicles and real estate loan portfolios," B3 said.

As of March 15, US$1 was equivalent to 3.81 Brazilian reais.